Buyer Psychology and the Marketing Exchange
Source – Last Word: Read the room, Starbucks (sfchronicle.com)
It is no secret that Starbucks Coffee is arguably the most popular coffee organization worldwide. With more than 32,000 stores in 80 countries (according to Starbucks), they have become the industry leader of any coffee chain. So, what is the reason they sell billions of coffees annually? Is there coffee really that good? Or does purchasing their coffee make you feel good?
When considering the marketing exchange, Starbucks consumers are truly exchanging pocket money for the good feelings associated with buying their specially made coffee, not the coffee itself. The two driving sentiments that come to mind when you buy a coffee from Starbucks are feeling productive and feeling as though you’re “treating yourself.”
From personal experience and noticing the habits of my colleagues, classmates, friends, family influencers, and you name it – when you have a lot of work to do, waking up early and getting Starbucks will make you feel like you’re on the right track for a successful and productive day. Of course, caffeine does help but there is a definite psychological component to grabbing Starbucks when you know you must focus or have a long day ahead.
Source: Maddy Schmidt | Chief Photographer
Along with that, there’s a positive feeling of rewarding yourself or “treating yourself” when you buy a Starbucks drink. Say you wake up early on a Saturday for a work event or to exercise: it feels like you earned that drink. Maybe a long week finally comes to an end, instead of waking up and keeping the usual routine of a mediocre roast from the Keurig, buying a Starbucks coffee will gratify you and offer a symbolic pat on the back.
The combination of those perceived exchanges keeps Starbucks consumers coming back for more. I challenge whoever reads this, to think back to a time they purchased Starbucks and ask themselves – was it really about the coffee? Or the feelings that came from buying their coffee?